One thing is for sure, politics never stops. This includes the political betting landscape, which has expanded in recent years to include many markets. One of these markets includes wagering on the 2022 midterms at sites like PredictIt, which allows you to speculate on who will win in the Presidential Election for 2024, and the midterms in 2022.
Let’s take a look at the 2022 Election odds for the midterms, the odds movement for the betting market, and a look at why this election cycle is an important one to follow.
2022 Election Odds – Midterms
With the midterms elections just around the corner in 2022, the buzz surrounding the odds for who will win the midterms has already begun. The 2022 elections are big for politics, as it will determine who control the Senate. With a Democratic President in the White House, this becomes as important as ever for either party. When things are important and popular, wagering occurs.
Here is a look at the latest odds (prices) for which party will win the 2022 midterms and effectively win the Senate.
|Party||Latest Odds to Win Senate (PredictIt)|
The odds (prices) are from PredictIt.org. They use a “price” formula, which indicates on a dollar scale. The higher the price, the better the odds. For example, 30c is low odds and 70c is high odds to occur.
Midterm Election Odds Movement Timeline
Without a doubt, the craziest part of following the election odds for any market is the odds movement. The 2020 election was one of the most bizarre markets of all time, following the 2016 election. For the 2022 midterm elections, the odds have already been a whirlwind. Let’s take a look at the movement, courtesy of PredictIt.
|Date||Democratic Price to win Midterms||Republican Price to win Midterms|
As you can see the movement has definitely favored and trended towards the Republicans, as their odds have moved from 45c to 51c, and climbed to 55c. In terms of odds, that is similar to +150 to -110, in just a few months. It will be interesting to see how the odds shift throughout 2021 and early 2022 before the Midterms.
Democrats and Republicans Battle for Senate Control
Why are the 2022 midterm elections so important? This is for the control of the Senate. The House of Representatives market is heavily favoring the Republicans, and of course we know that the President is from the Democratic Party. This means that the Senate will determine which leads “2-to-1” amongst these three areas.
If the Republicans win the Senate, they would control the House (as favored) and the Senate which gives them both, but not the Presidency. If the Democrats win the Senate, they will have both that and the White House, but not the House (assuming odds are correct).
Keep an eye on these odds and prices, as they will change throughout the 2021 and 2022 campaigns before the elections occur. Looking for more 2024 election info? Check out the 2024 Republican Nominee odds, here.
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